CNET and PDNOnline are reporting that the video streaming web site, Vimeo, today will launch Vimeo PRO, a subscription video hosting service aimed at small businesses.

For an annual fee of US$199, users get 50GB of storage and 250,000 video plays per year. Customers will also be able to create video galleries using a selection of templates and themes and post the galleries to their own web sites, while Vimeo hosts and streams the actual videos. Subscribers can use their own branding elements and logos with the galleries.

Additional storage space and more video plays can be purchased for additional fees. PDNOnline says the service will become available on the Vimeo web site at 1:00pm EDT today.